NIFTY FUTURE : R1:8643 R2:8671 R3:8720
PIVOT :8595 S1:8566 S2:8518 S3:8490
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| stock future tips |
- Technically, A strong break below 8550 will increase the downside pressure and drag it to 8400/8300. Traders can go short on a break below 8550.On the other hand, a decisive break above 8680 will ease the downside pressure and take the index futures higher to 8750 and 8800 thereafter. Indian Stock Market is still in negative zone but market would see a bounce at lower levels near support. Nifty is laying near its major support level of 8500. 8500 is a make or break level on closing basis. If Nifty closes below those levels then a breakdown would be seen in the market and we can even see levels of 8200-8000-7700 in days to come. If Nifty holds 8500 for next couple of days then we would see a sharp positive rally.
- MACD and Price ROC are both negative and continue in sell mode. RSI (40) suggests bearish momentum.
NIFTY FUTURE Nifty closed almost unchanged at 8,615. The Indian equity market fell for a third day. The Sensex slipped 100 points, while the Nifty50 fell below its 8,600 mark. Tata Group shares
extended its fall on Thursday after the company sought a clarification. The BSE Mid-cap Index is trading down 0.70% at 13,327 whereas BSE Small-cap Index is trading down 0.36% at 13,381. Some buying activity is seen in realty, oil & gas and FMCG sectors, while telecom, banking, auto, capital goods, IT, industrial and pharma are showing weakness on NSE. The INDIA VIX is up 1.52% at 14.6725. Asian markets opened flat as renewed strength in US$ & rise in bond yields with the US 10 year hitting 1.79% saw profit booking in equities continue. With nearness to US election results & an inevitable rate hike on the cards, global equity markets have seen huge under performance this October.
STRATEGY: Buy Nifty Future above 8620 the target of 8670 -8720 with the stop loss of 8545.
extended its fall on Thursday after the company sought a clarification. The BSE Mid-cap Index is trading down 0.70% at 13,327 whereas BSE Small-cap Index is trading down 0.36% at 13,381. Some buying activity is seen in realty, oil & gas and FMCG sectors, while telecom, banking, auto, capital goods, IT, industrial and pharma are showing weakness on NSE. The INDIA VIX is up 1.52% at 14.6725. Asian markets opened flat as renewed strength in US$ & rise in bond yields with the US 10 year hitting 1.79% saw profit booking in equities continue. With nearness to US election results & an inevitable rate hike on the cards, global equity markets have seen huge under performance this October.
STRATEGY: Buy Nifty Future above 8620 the target of 8670 -8720 with the stop loss of 8545.
SECTORIAL INDICES
CORPORATE NEWS
- Force Motors reported an 11.7% rise in Total Income for Q2FY17 to Rs. 965.5 Cr, as compared to Rs. 864.1 Cr in the corresponding quarter last year. The company reported a Net profit of 50.3 Cr as compared to Rs. 42.7 Cr previously, up by 17.8% YoY.
- Maruti Suzuki reported a sharp 60.2% rise in Net profit for Q2 at Rs. 2,398 Cr as compared to Rs. 1,497 in the previous quarter last fiscal. Revenue was up by 29.3% to Rs. 20,296.8 Cr, as against Rs. 15,699.7 Cr previously. Domestic sales in Q2 increased 18.5% to 3.83 lakh units and exports grew by 17.9% YoY to 35,440 units, largely driven by Baleno and Vitara Brezza.
- TVS Motors posted a 33% increase in Net Profits to Rs. 177.4 Cr in Q2FY17 against Rs. 133 Cr in the previous quarter last year. The Total Revenues grew by 20.6% to Rs. 3726.3 Cr, against Rs. 3089.4 Cr previously. The overall two-wheeler sales, including exports, grew by 23% to 7.95 lakh units as against 6.46 lakh units.
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